PropertyInvesting.com | rickotton | Activity https://www.propertyinvesting.com/members/rickotton/activity/ Activity feed for rickotton. Sun, 12 Apr 2026 13:54:40 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 37b6748af87cc8d6d55b15afef17c889 rickotton replied to the topic Consumer Protection Western Australia in the forum Creative Investing https://www.propertyinvesting.com/topic/4409996-consumer-protection-western-australia/#post-4694668 Wed, 04 Dec 2013 00:04:40 +0000  Hello its Rick Otton here with a little more accurate information re WA…Western Australia passed legislation that people need a real estate license in order buy, sell or trade a property option .
I had an informal chat with the commissioner  as I was concerned every property developer and property speculator in WA would now need to be licensed .…[Read more]

]]> 79ad4c83d1309a3b2382a3787b3a7121 rickotton replied to the topic Rick Otton in the forum Heads Up! https://www.propertyinvesting.com/topic/4406658-rick-otton-3/#post-4670471 Tue, 03 Dec 2013 23:45:38 +0000  Hello its Rick Otton here with more information re WA.
Western Australia passed legislation that people now need a real estate license to buy, sell or trade a property option. I had an informal chat with commissioner re this change, as I was concerned that every property developer and property speculator in WA would now need to be licensed.
The…[Read more]

]]> d56e37307d7ad62e08d89220e7eaf82f rickotton replied to the topic Jenman on 'RENT TO BUY' SCHEMES in the forum Creative Investing https://www.propertyinvesting.com/topic/4390466-jenman-on-rent-to-buy-schemes/#post-4572174 Tue, 14 Aug 2007 21:14:08 +0000 Facts…North Sydney was sold with wrap instalment contracts as was Newcastle as was Chatswood as was most other regional cities in australia…..Fact……on one documented ontract has been disputed in court…………1Fact……vendor finance contracts made up most real estate contracts in the first 100 years of Australias…[Read more]

]]> 924a1576911afa4036763f6462e11e70 rickotton replied to the topic 2nd Mortgage carryback in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4386462-2nd-mortgage-carryback/#post-4552912 Mon, 11 Sep 2006 12:12:48 +0000 Here it is……how many are you doing?
Do one and you get hit unless you can prove this is the business you are in
if this is the business you are in then you pay the tax when you receive the profit
http://www.rickotton.com

]]> 380d2864ad828d1e64f6e401e7338cea rickotton replied to the topic How to do 'no money down' deals in the forum Creative Investing https://www.propertyinvesting.com/topic/4386334-how-to-do-no-money-down-deals/#post-4552330 Mon, 11 Sep 2006 12:02:16 +0000 Because of market corrections it is always good to be armed with the right strategy for the right market timing……now it is probably wiser to simply assume or take control of mortgages attached to the existing house your thinking of buying…this way you didn’t create the debt and are not liable for it but can profit greatly from it being…[Read more]

]]> 07d7e8e5d7cda32c62f863b5ce773f88 rickotton replied to the topic Put and Call options in the forum Creative Investing https://www.propertyinvesting.com/topic/4386691-put-and-call-options-2/#post-4554066 Mon, 11 Sep 2006 11:51:02 +0000 The power of these are amazing they come in a variety that is proving to be very popular …
To use these strategies to assume home loans and buy into big properties for pennies. Only today one of my students bought a 1.5mil property tennis court and pool for the cost of next months mortgage payment and a organized a car to be left in the…[Read more]

]]> d873738962da1e153176af4bc60e72ae rickotton replied to the topic What's wrong with this ad? in the forum No Subject https://www.propertyinvesting.com/topic/4382374-whats-wrong-with-this-ad/#post-4530604 Sat, 24 Sep 2005 01:29:59 +0000 I suggest you put some meat in the copy and remove the advertizing jargon.How about the costs, the money required to get involved.Price on application I haven’t found sits well with buyers.Listen to a teleconference I had last week with a student of mine and she’ll tell you how she changed her add style and received over 40 calls…she tells what…[Read more]

]]> a8613bb98c4fae9afaabd9036992b176 rickotton replied to the topic Rick Otton Bootcamp... in the forum Heads Up! https://www.propertyinvesting.com/topic/4382032-rick-otton-bootcamp/#post-4528492 Sat, 24 Sep 2005 01:20:09 +0000 I pay 1% for prescreened buyers
http://www.rickotton.com

]]> 1f27e1cc8b63edc230cc5b2f7a9c0c23 rickotton replied to the topic Rick Otton Bootcamp... in the forum Heads Up! https://www.propertyinvesting.com/topic/4382032-rick-otton-bootcamp/#post-4528489 Wed, 21 Sep 2005 04:57:26 +0000 Thank you for the question.Before I agreed to this purchase I asked the agent (whom I’ve bought from before)what else had just sold in the street to support this property as being below market and a good buy.Two houses had sold in the same street one for 348k and one for 355k.I will shortly put up on my site some downloadable footage of this…[Read more]

]]> 4848a8a8892ae36a656828cd57a882d0 rickotton replied to the topic Rick Otton Bootcamp... in the forum Heads Up! https://www.propertyinvesting.com/topic/4382032-rick-otton-bootcamp/#post-4528485 Sun, 18 Sep 2005 07:32:06 +0000 The event this year moves with the massive growth in the market place of assuming loans through lease options and creating debtfree income streams through 2nd mortgage carrybacks.I’m sure we’ll cover all the other types of vendor financing somewhere but for the benefit of those not familiar with the power of the 2nd mortgage carrybacks as a great…[Read more]

]]> 216aca6b7e21bcc1e3cd96c9c98a9809 rickotton replied to the topic Sharing Tips- in the forum General Property https://www.propertyinvesting.com/topic/4374439-sharing-tips/page/3/#post-4479091 Sat, 10 Sep 2005 15:25:09 +0000 tip:experience is what you get when you don’t get what you want

Tip:you can never pay too much, just too soon

http://www.rickotton.com

]]> e4326b128b49c1f2f8b310f6b8205d89 rickotton replied to the topic USA Adventure in the forum General Property https://www.propertyinvesting.com/topic/4381239-usa-adventure/#post-4523238 Sat, 10 Sep 2005 15:00:06 +0000 May I suggest you feel free to contact me if you want some assistance or advice with Texas as it was in Texas I started my We buy Houses business some 15 years ago and bought many foreclosues in the good old days of the Savings and loans collapse as well as many since.p.s. it doesn’t get cold till about Thanksgiving. http://www.rickotton.com

]]> d0ee797aac5ecd10f96c1d5f0bbb492c rickotton replied to the topic USA Flips in the forum Creative Investing https://www.propertyinvesting.com/topic/4381017-usa-flips/#post-4521851 Sat, 10 Sep 2005 14:47:54 +0000 I have managed to achieve many of these transactions Texas over the years, the advantages are you can do so with only one form and $7 and you can use a 1031 exchange to defer taxes on profits by applying the profits to the next property.Downside is from experience doing this from a distance means you’re relying on Texans thinking like…[Read more]

]]> 9068cefdcc9c72b7271006d9e1253135 rickotton replied to the topic Banks and Vendor Financing? in the forum Creative Investing https://www.propertyinvesting.com/topic/4382010-banks-and-vendor-financing/#post-4528397 Wed, 07 Sep 2005 06:01:20 +0000 “Tea bagging” is becoming quite popular at the moment and really is one of the most popular types of vendor finance.This is where a buyer finances 90-95% of his property purchase and you supply the remaining 5-10% either by gifting or cash in.You carry back from settlement 2nd mortgage or first on other unemcumbered property
for 100% to 300% of…[Read more]

]]> e7f8919951614a7cbd4beffc076ef178 rickotton replied to the topic lease option in pyrmont? in the forum Creative Investing https://www.propertyinvesting.com/topic/4382039-lease-option-in-pyrmont/#post-4528522 Wed, 07 Sep 2005 05:53:35 +0000 Remember the secret here is your providing and supplying opportunity …not a two bed unit as a two bed brick unit has no emotive impact http://www.rickotton.com

]]> 9833ff2180df6edbec8b56196edc5966 rickotton replied to the topic Lease Option Deal Example - Workable? in the forum Creative Investing https://www.propertyinvesting.com/topic/4382037-lease-option-deal-example-workable/#post-4528515 Wed, 07 Sep 2005 04:32:16 +0000 May I suggest a couple of things here…
1/ A letter from her lender which is pretty standard stating the payout figure from the property in order to release title…this is different from loan balance letter
2/ You don’t mention how much she needs upfront which is important to know
3/ in this market I always mention to sellers and get them to…[Read more]

]]> e98edf5f043bc87e2c0a52f0b28f10f5 rickotton replied to the topic Property investing in USA in the forum General Property https://www.propertyinvesting.com/topic/4379093-property-investing-in-usa/#post-4508855 Tue, 15 Mar 2005 11:41:42 +0000 As you guys know I buy in dallas twice a year because that is where I started out so If you’d like to come along next time drop me a line
rick@webuyhouses.com.au

]]> 45f34aa10853dd9973d8d1662740e0b5 rickotton replied to the topic Vendor Finance Association Kaput? in the forum No Subject https://www.propertyinvesting.com/topic/4377608-vendor-finance-association-kaput/page/3/#post-4499527 Tue, 04 Jan 2005 00:07:59 +0000 Hi again, re the interview

I refused to do the current affair interview and it was agreed to only at the last minute under two conditions
A/ I would only talk about the association with I was the spokes person for at the time but not the President
B/ I received the questions in advance

Neither of these two things happened and unfortunately…[Read more]

]]> 126d819b6ce442d15eb8cc22d8c7d8e0 rickotton replied to the topic Vendor Finance Association Kaput? in the forum No Subject https://www.propertyinvesting.com/topic/4377608-vendor-finance-association-kaput/page/3/#post-4499525 Mon, 03 Jan 2005 23:52:46 +0000 Hello,
in answer to my comment about never having been to a Steve seminar, I remember being interviewed and it became obvious from the beginning that the interview was really a set up for an industry bashing with the interviewer to set both Steve and myself up and pitch us against each other

At the time I made the statement to the journo my…[Read more]

]]> f9f7072b08e4e7c5393ade00f2e0ab36 rickotton replied to the topic Boot camp? in the forum Heads Up! https://www.propertyinvesting.com/topic/4374894-boot-camp-2/#post-4481938 Fri, 09 Jul 2004 11:23:22 +0000 fair comment about the copy writing it is a little gimmicky and i will address that but buying the house for $1000 deposit is correct so is last months for $452.00 deposit……full stop no more to pay….it is because it is hard to believe I do all these things that i put up the actual contracts, the actual cheques and in many cases actual…[Read more]

]]> 7852914b7c3a34c15dc67a80677939b0 rickotton replied to the topic Where to go from here! in the forum Help Needed! https://www.propertyinvesting.com/topic/4372847-where-to-go-from-here/#post-4467258 Mon, 10 May 2004 20:51:36 +0000 guys why not lease option the property that way you can massively increase the yield and provide an easy in for potential buyers..i.e. yesterday i lease optioned a unsold unit for 630k with no deposit payable to the seller and now will have my new lease option tenant pay me 3700 per month.
this covers sellers monthly expenses and the option strick…[Read more]

]]> 2f3b12396c4c849c92ae02127641ba4a rickotton replied to the topic qualified wrap leads in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364794-qualified-wrap-leads/#post-4411594 Sun, 29 Sep 2002 02:09:05 +0000 Steve your correct,

we’ve had to send everybody a letter to get permission to pass on their info to other members so i’m sure we’ll get most of those back shortly

Rick

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